There really is going to be a lot of new business and residents living around Minnesota United’s new soccer stadium in St. Paul — but not until it is done.

RD Management, a New York-based property management company, which owns 20 acres in the Midway area of St. Paul where the Allianz Field stadium is being built, said Monday it has plans for new buildings that would “add additional retail, office, residential, entertainment, and hospitality options to its property.”

The redevelopment would follow the completion of the adjacent $200 million stadium in 2019.

“I think the biggest thing about this announcement is it is a reality. … We think this is going to be a significant addition to the neighborhood,” Minnesota United FC owner Bill McGuire said in an interview.

While there has already been significant interest in the site, the announcement is informing potential partners nationally “that this property is out there and all of its merits and virtues and that it is moving ahead,” McGuire said.

Minnesota United is heavily involved with the development and McGuire said the team could eventually have a variety of roles at the property.

The proposed development would align with the master plan the St. Paul City Council approved last year for the area.

Its vision called for a new commercial and entertainment district anchored by the stadium that would transform that portion of the neighborhood that falls between University Avenue and Interstate 94 east of Snelling Avenue.

The new buildings are planned along the western edge of the property on Snelling Avenue.

Part of the Midway Shopping Center that currently takes up the land will be demolished to make way for the stadium.

Next steps for RD Management include the demolition of the shopping center’s Rainbow, Walgreens, Home Choice and Big Top Liquor, along with preleasing for the mixed-use project.

RD Management didn’t provide any detailed timelines.

“Our plan to expand the Midway/Allianz Field project and turn it into a mixed-use experience is an early-stage development that presents tremendous opportunity,” Richard Birdoff, principal and president of RD Management, said in a statement.

RD’s announcement comes a couple of days before the St. Paul City Council is expected to take a vote on several decisions that would affect the site, including establishing a park near the stadium and financing street and stormwater improvements.

“From our experience with [McGuire] and [Birdoff] they have every intention of carrying out development of this block. … They really do want to make it be a transformative development,” said Lee Krueger, president of the St. Paul Port Authority.